Remarketing

Vans Lead March Depreciation in Tax Buying Season

Used vehicles in the 2009-2013 model years fell 0.7 percent in value in March in a market bolstered by tax buying season and strong residual values of full-size vans, according to Black Book.

Full-size passenger vans recorded the strongest retention value with a 1.5 percent increase from February and a 3.3 percent increase from a year ago. The average price at auction for vehicles such as the Dodge/Freightliner Sprinter, Ford E-Series and Chevrolet G-Series was $19,468.

Black Book began tracking sales of used subcompact CUVs, a category that includes the Buick Encore, Chevrolet Trax, Fiat 500X, and Jeep Renegade.

Premium sporty cars recorded the steepest depreciation among car categories in March at 1.2 percent to $46,147. They fell 13.3 percent from a year ago. Vehicles in this segment include the BMW 6-Series, Chevrolet Corvette, Mercedes-Benz SL and Cadillac XLR.

The nation's largest wholesale vehicle auctions, including Manheim and Adesa, have shifted to digital-only auctions and taken other precautions to protect the facilities from Hurricane Dorian's possible landfall later this week.

Overall used vehicle values are at strong levels. Crossover values are holding steady but there is cause for concern in the near future. Sedan values are expected to improve or stabilize as more crossovers enter the market.

The value of used fleet vehicles sold in wholesale channels increased 0.4% to $13,812 in July and are now up 4.1% through the first eight months of 2019, according to Tom Kontos, chief economist for KAR Auction Services.